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# System prepended metadata

title: 'MIP55c3-SP6: Legal Domain Work on Greenlit Collateral (bIBTA) Special Purpose Fund'
tags: [Summaries]

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tags: Summaries
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# MIP55c3-SP6: Legal Domain Work on Greenlit Collateral (bIBTA) Special Purpose Fund

This is a summary of the contents of this subproposal and its impact, from GovAlpha's perspective:

- This is a valid subproposal to add a SPF, as defined in [MIP55: Special Purpose Fund](https://mips.makerdao.com/mips/details/MIP55).
- The SPF aims to fund legal expenses relating to domain work in the context of the greenlit [bIBTA application](https://forum.makerdao.com/t/mip-6-declaration-of-intent-invest-in-short-term-bonds-proposal-for-implementation/16185).
- This proposals asks for 50,000 DAI. As per [MIP55c3](https://mips.makerdao.com/mips/details/MIP55#MIP55c3), it is eligible to enter the *Weekly* Governance Cycle after having fulfilled its two-week Feedback Period (from August 24 onwards) and its one-week Frozen Period.
- If this subproposal is ratified, 50,000 DAI will be transferred to the specified [MIP47-compliant](https://mips.makerdao.com/mips/details/MIP47) multisig wallet through the earliest executive vote.
- This proposal has been assigned `High-Impact` based on the methodology listed [here](https://forum.makerdao.com/t/introducing-impact-estimations/14267).